FIXING SOCIAL SECURITY — WHAT WOULD BISMARCK DO?

Social Security needs to be fundamentally reformed without undermining its legitimate mission — forcing people to save and insure and providing forms of social insurance that the private market would either not provide or provide poorly. Although the system has done great good, it is incomprehensibl...

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Veröffentlicht in:National tax journal 2011-06, Vol.64 (2), p.415-428
1. Verfasser: Kotlikoff, Laurence J.
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description Social Security needs to be fundamentally reformed without undermining its legitimate mission — forcing people to save and insure and providing forms of social insurance that the private market would either not provide or provide poorly. Although the system has done great good, it is incomprehensible, inefficient, inequitable, and, most important, insolvent. This paper lays out a simple, modern version of Social Security that Bismarck would surely support. My proposed Personal Security System is fully funded, transparent, efficient, fair, and progressive. It features personal accounts that are collectively invested by the government (not Wall Street) at zero cost to workers.
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source EBSCOhost Business Source Complete; Jstor Complete Legacy; Education Source; Alma/SFX Local Collection
subjects Age
Bismarck, Otto von
Economic policy
Economic theory
Federal taxes
Financial securities
Fiscal policy
Forum: Reforming Social Security
Income taxes
Laws, regulations and rules
Policy research
Proposals
Reform
Reforms
Retirement benefits
Social policy
Social security
Social Security benefits
Social Security Disability Insurance
Social security reform
Social security tax
Spouses
Tax benefits
U.S.A
title FIXING SOCIAL SECURITY — WHAT WOULD BISMARCK DO?
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